Mirae Asset Vision SPAC 9 Q1 2026 Quarterly Report - Normal Operations, No Major Events

**Company Overview**: Special Purpose Acquisition Company (SPAC), established Aug 2025, listed on KOSDAQ Dec 2025. Sole business purpose is merger with another company.
**Capital Structure**: 5.5M shares outstanding (par value KRW 100), capital KRW 550M. Convertible bonds KRW 1.5B (1st series unsecured private, conversion price KRW 1,000, maturity 2030). Major holders: Mirae Asset Securities (66%), Solric Investment (11.3%), Genie Asset Management (11.3%), Mirae Asset Venture Investment (11.3%).
**Financial Position**: As of Mar 31, 2026: total assets KRW 11.9B (cash & equivalents KRW 93M, short-term financial products KRW 11.7B, including KRW 10B in trust), liabilities KRW 1.4B (CB KRW 1.3B), equity KRW 10.5B. Net income KRW 31M (financial income KRW 71.5M, interest expense KRW 10.4M, etc.).
**Merger Progress**: No target company identified yet. Merger deadline: Nov 24, 2028 (36 months from subscription). If failed, dissolution and return of escrow funds.
**Shareholder Status**: Largest shareholder Wanted Lab (7.27%). Founding shareholders and CB holders have voting restrictions and lock-up (6 months to 1 year post-merger).
**Dividends & Shareholder Return**: No dividend plan. No share buyback or cancellation.
**Financial Restrictions**: No borrowing, guarantees, or collateral. 100% of IPO proceeds deposited with Korea Securities Finance.